Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1887-06-25
KILLING JAY GOULD
IN ORDER TO HAVE A TIME OF IT ON
THE STOCK EXCHANGE.

A Slump in the Stocks on Wall Street
Gould Objects to Such Frequent Trips to
His Health - Echoes OF the Fidelity
Failure-The California Clique.
NEW YORK, june Is There was great ex-
citement and activity on the stock market
Friday morning, and at times a very panicky
feeling prevailed. All sorts of rumors were
afioat, principal among which was one to the
effect that Jay Gould had died suddenly.
This rumor had been circulated and denied
for the past two weeks, but some color was
given to it this time by a heavy break in all
the Gould securities. Manhattan Elevated,
Missouri Pacific Western Union, and Kan
sas & Texas all opened weak, and after the
first few transactions Manhattan began to
break in a lively fashion Missouri Pacific
was the next weakest 1t was said that both
stocks were being used to break the market.
1t was also stated on what ap-
peared to be trustworthy authority
that the usual supporters of Manhattan
were directed not to protect the stock. There
was a great rush to sell the stock and, al
though it opened at 1854, there was no mar
ket for it down to 100 In other words, none
of it could be disposed Of Its price finally
fell to lis. Missouri Pacific was also rapidly
sold down, declining from 1851 to %. West
ern Union dropped ~ The dealings on the
rapidly declining market were carried on
amid great excitement, and at times pande-
monium reigned. About ten minutes before
l2 o'clock, when it began to be real
i7ed that there was in fact, no real cause for
the decline but manipulation; that Mr..
Gould was not dead as reported, but very
much alive, and that there was no bad news
from any quarter, but on the contrary an
improvement in general confidence as far as
the recent fiurries in Cincinnati and Chicago
were concerned, there was a sharp rally in
| prices and they steadily recovered to the
close, when they showed recovery Of n to
20 per cent from the lowest point, the latter
| in Manhattan.
A tour among the brokers and Wall street
| operators shows that none Of them think the
slump amounts to anything, or that it fore
shadows any trouble. Most of them think
| stocks are too high and donot look for rapid
| recovery to late prices. Ex-Treasurer Jordan
says money was scarce owing to large ship
1 ihFuto Wcst Out tlo Sulf uispui SciHCutS VI buc
treasury viii supply the deficiency.
Mr.. Jay Gould was seen by a reporter of
the United Press on board his steam yacht
| ATLANTA, at Irvington -on-the- Hudson Fri
day evening. He said that the reports which
interested stock jobbers had persistently cir
cuIated were infamous. His family were
worried beyond measure, and if he were to
live the life he had led for the past two week,
he would be a lunatic within year.
| The reporter remarked that he looked
| pretty healthy for a man who had been under
| such severe strain for two weeks Mr.
| Gould said he was enieavoring to recoup his
| strength He had overtaxed his strength
within the past few years, and of late had
suffered considerably from neuralgia and 9
| diSordered stomach Just as he was he
| ginning to be really benefited by his quiet
| restful life he was made toe Object
| of Wall street romancers' fancy, and
such stories as had been circulated dnrinl
the past fortnight did not tend to improve az
ailing mans condition. The ingenuity of tn,
story -tellers he said however, he could no
help but admire. Friday morning, for in
stance, after be had boarded his yacht for
qniet sail, the news was sent broadcast tina
he was dead They imagined he would spenC
the entire day on the water and thus he abb
TO repeat the story without fear of contradic
ton.
They had, he was credihly informed. a mai
at Irvington who telegraphed TO New Yorl
the minute he stepped on board, and thel
the news WAS sent broadcast, but they hat
recI,oued wrongly. He returned within tw
hours, and upon his arrival was able to stem
the current He hoped that now that the,
had carried their point So disreputably the
would turn their attention 10 some other in
/. ilvidual and allow him to secure the rest b
required